Thursday, 05 Nov 2020 04:12 PM MYT
The scams are perpetuated by companies that fraudulently impersonate a legitimate entity, including misusing the name and logo of a public-listed company to dupe investors and to solicit funds. The latest cloning scams include PLCs in the medical, glove and property sectors that had attracted investors’ interest during the Covid-19 pandemic.
The victims are often instructed to provide personal information such as their names, identity card numbers and bank details, after which they will be directed to transfer funds to the personal bank accounts of the scammers.
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a.k.a. Jho Low's style of misleading someone into believing it's the real thing